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ParetoHealth Partners with Rightway to Enhance Healthcare Navigation for Small and Midsize Businesses

In a significant move towards enhancing healthcare management for smaller organizations, ParetoHealth has announced that it will make Rightway's services available to its expanding network of employers. This initiative, which includes over 4,000 different businesses, aims to ease the navigation of healthcare options for approximately 1.3 million individuals involved. By merging resources, both companies are set to redefine the accessibility of healthcare navigation that has often been seen as the domain of larger enterprises.

The Importance of Navigation in Healthcare

Navigating the healthcare system can be daunting, especially for employees of small and mid-sized businesses that may already be stretched thin in resources. Care navigation becomes crucial in this context—it not only serves to help employees make informed health choices but also improves their engagement with the benefit programs offered by their employers. Kevin Kickhaefer, Chief Revenue Officer at ParetoHealth, elaborated on this, stating that having the right resources has traditionally been a privilege of larger organizations. However, with the community approach embodied by ParetoHealth, these essential services can be adapted for smaller companies.

Streamlining Costs and Services

Employers have long faced challenges when opting for self-funding their healthcare expenditures. ParetoHealth addresses this difficulty by offering a streamlined solution tailored specifically for small and midsize businesses. Self-funding effectively empowers employers with more control over their healthcare costs, alleviating the burdens they often face under traditional insurance frameworks. According to a claims-based study, employers that transitioned from fully insured plans to the services offered by ParetoHealth witnessed a noteworthy reduction of 7.5% in healthcare costs within the first year, with additional savings of 16.5% by the third year.

Additionally, ParetoHealth is fortifying its Savings Engine, integrating a broader array of cost-containment solutions to effectively support employers. With pre-built integrations across various third-party administrators and pharmacy benefit managers, the setup could be managed and operational in as little as 60 days, minimizing the strain on HR departments.

Rightway's Role in Enhancing Experiences

The collaboration with Rightway enriches the ParetoHealth ecosystem by providing employees with easier access to the benefits they have at their disposal. Rightway offers comprehensive guidance through its network of expert health guides and clinical specialists. This means that from understanding how benefits work to finding suitable care options, employees are supported every step of the way. Rightway aims to enhance the decision-making process regarding health care and aims to facilitate easier appointment scheduling and billing issue resolutions.

Some significant benefits of this partnership include:

• - 24/7 Access: Employees gain access to US-based care navigators and clinicians around the clock.
• - Improved Care Decisions: About 33% of individuals using Rightway's services are redirected to lower-cost healthcare options, highlighting the potential for significant cost savings.
• - Cost Reduction: Collectively, employers can save over $3 million in employee out-of-pocket expenses annually.
• - Integrated Solutions: ParetoHealth has also simplified implementation through pre-existing connections with TPAs and PBMs, paving the way for a smoother start.

Jordan Feldman, co-founder and CEO of Rightway, expressed excitement about this partnership, highlighting the change it will bring to small and mid-sized employers who typically face an uphill battle in accessing effective healthcare solutions.

Conclusion

The strategic collaboration between ParetoHealth and Rightway marks a pivotal change in how small and midsize employers approach healthcare. Through innovative solutions and a dedicated network of professionals, this partnership not only empowers employers with the tools required to minimize costs but also enhances the overall health experience for their employees. As the landscape of healthcare continues to evolve, such models will be essential in bridging gaps for organizations of all sizes, fostering a healthier and more engaged workforce.